State is on the hunt for redevelopment money

One of the most complicated, important and obscure functions in California's state budget will begin on Thursday, as Gov. Jerry Brown's administration starts tallying up leftover funds from defunct redevelopment agencies.

The agencies are being dissolved this year, and the Brown administration is counting on $3.1 billion in cash and property tax revenue to help close the deficit. The redevelopment money is being routed to local schools and community colleges, which lightens the load on the state budget.

The first of many waves of money is expected to start rolling in over the next few weeks.

It's a controversial issue, and could result in drawn-out political and legal battles over how much redevelopment money cities should be allowed to keep.